VA Cash-Out Refinance Calculator
See how much cash you can tap from your home under VA's 100% rule — and what it does to your monthly payment.
Your home and current loan
An appraisal estimate is fine. This sets the 100% cash-out ceiling.
Cash out
The largest amount that fits under the 100% limit with your other choices is $66,581.
Origination, appraisal, title, recording.
The new loan
Funding fee
Veterans receiving VA disability compensation pay $0.
New monthly payment
Estimated$2,113
Your principal and interest would be $195 higher each month.
Taking $20,000 out of a home worth $400,000 on a $320,000 loan creates a new loan of $352,418 — 88.10% of the home's value.
The new loan
Your payment
Cash at closing
VA allows up to 100% of home value with full entitlement, but many lenders cap cash-out below that. Principal and interest only — taxes, insurance, and HOA dues are not included.
New monthly payment
$2,113
How the 100% limit works
A VA cash-out refinance lets qualified veterans and service members replace their current mortgage with a larger one and take the difference in cash. Unlike most conventional cash-out programs, VA permits up to 100% of the home's value for a borrower with full entitlement — so a home worth $400,000 can support a new loan of up to $400,000, before fees.
If you have already used some of your entitlement, a county loan limit may apply instead. Check it with the entitlement calculator or read the entitlement guide.
The funding fee on cash-out
Cash-out refinances carry a funding fee of 2.15% on first use and 3.30% on subsequent use — it does not vary with your down payment, because there isn't one. The fee can be rolled into the new loan, which is why the calculator solves for the largest cash amount that still fits under the limit after the fee is added.
Veterans receiving VA disability compensation, surviving spouses receiving DIC, and some others are exempt. The funding fee calculator covers every loan type and exemption.
Cash-out or just a lower rate?
If you only want a lower rate, an IRRRL streamline refinance charges a flat 0.5% funding fee instead of the cash-out tiers — usually far cheaper. Run the refinance break-even calculator first and take cash out only when the loan you keep justifies it.
Common questions
How much cash can I take out with a VA cash-out refinance?
With full entitlement, VA allows a cash-out refinance up to 100% of your home's value. The calculator solves for the largest amount that still fits after your existing balance, closing costs, and the funding fee. Many individual lenders cap the loan-to-value below 100%, so treat the result as a ceiling.
What is the funding fee on a VA cash-out refinance?
2.15% of the loan amount on first use of the benefit, 3.3% on subsequent use, regardless of home value or loan size. The fee can be financed into the new loan. Veterans receiving VA disability compensation are exempt and pay $0.
Does taking cash out change my monthly payment?
Usually yes, in two ways. A larger loan raises the payment, but a lower interest rate or a shorter term can offset that. The calculator compares your current principal and interest against the new loan so you can see the real change before committing.
Is a VA cash-out refinance the same as a home equity loan?
No. A cash-out refinance replaces your entire mortgage with a new one, while a home equity loan or HELOC sits on top of it. A VA cash-out can carry a lower rate than a second loan, but it resets your term and charges the VA funding fee. Compare both before deciding.
Sources and last verified
- VA funding fee rates: VA.gov funding fee and closing costs
- Rates effective April 7, 2023. Last verified August 31, 2026.
- Payments use standard amortization. No lender-specific pricing is applied.
- What these estimates exclude: your lender's actual rate lock and fees, HOA dues, flood or mortgage-recording costs, escrow-shortage adjustments, and any county-specific tax exemption you may qualify for.
- Every formula and assumption is documented in how we calculate.
Written and reviewed by the Veteran Home Calc editorial team against VA's published guidance. Rates and program rules last reviewed August 31, 2026.
Veteran Home Calc is an independent educational site. It is not affiliated with or endorsed by the U.S. Department of Veterans Affairs, and it does not sell leads or collect your numbers — results are estimates, not loan approvals, offers, or financial advice.